Business News

Industrial output continues to rise

Ljubljana, 10 July (STA) - Slovenia's industrial production dropped by 0.8% in May compared to the previous month, while it continued to grow year-on-year, by 3.1%, shows Statistics Office data release on Wednesday. Output has been growing on a year-on-year basis since December, although the pace has been decelerating.

Production in mining as well as electricity, gas and steam supply increased on a monthly basis - by 2.8% and 2.3%, respectively. However, in manufacturing it decreased by 1.2%.

Industrial revenue grew by 0.3% in May compared to the previous month. The minimal growth was due to foreign market turnover, which increased by 0.7%. Meanwhile, turnover in the domestic market declined by 4.4% on a monthly basis.

Revenue was up on an annual level as well (by 2.4%) due to higher turnover on foreign markets (by 4%), while domestic market turnover dropped by 2.1%, marking the second decline of domestic market revenue year-on-year since the beginning of 2017 - it already decreased in January 2019.

Inventories decreased by 1.4% in May compared to the previous month after two consecutive months of being on the rise.

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